Moody's: Consumer focus for Philippines banks

Moody's Investors Service said the reliance of Philippines banks on remittances from the country's overseas workforce provides enhancements to earnings stability and credit quality over the near and medium term.

The combination of rising remittance flows and the renewed interest of banks in building consumer financial services also has helped revive domestically retail banking products, which have grown faster than other types of loans, Moody's said.

However, the agency said building long-term stable retail banking operations may prove challenging.

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